BID3 Rule Changes

We have taken into consideration the British BIDs Industry Criteria and guidance notes from 2020.

Business Improvement District Rules below will come into effect on the 1st April 2022 until 31st March 2027

1. The Levy rate to be paid by each hereditament (rateable premise) will be calculated at 1.7% of its rateable value using the 2017 non-domestic ratings list throughout the BID’s Third Term. The exception to this will be any change of use or physical change to a property including: new construction; merger; subdivision; extensions or refurbishment where the hereditament has no entry in the 2017 list.
2. No inflation rate will be applied to the BID Levy during the BID Term.
3. The BID Term lasts for five years and is from 1st April 2022 to 31st March 2027.
4. Any new hereditament entering the ratings list with no 2017 rateable value will be levied at 1.7% of the prevailing list.
5. Businesses with a rateable value of £7,000 or less will be exempt from paying the BID Levy, will not receive a BID Ballot Vote and will be classed as Basic Level businesses of Plymouth Waterfront Partnership BID.
6. There is no void property discount for conservation listed, untenanted, and empty or under refurbishment properties. Under these circumstances the property owner will become liable for the BID Levy and will be entitled to vote at the ballot.
7. Hereditaments that are let for non-commercial uses are also liable for the Levy whilst they remain listed on the non-domestic ratings list.
8. The rating list will be updated for any changes in additions or removals based on the 2017 non-domestic ratings list as at the ballot date.
9. The BID Levy will not be affected by the Governments Small Business Rates Relief Schemes.
10. Charities and Not-For-Profit organisations will be liable to pay full Levy.
11. If a business ratepayer occupies a business for less than one year, the amount of BID Levy payable will be calculated on the number of days they occupy the property, known as ‘daily charging’.
12. Under BID regulations, the BID Levy will be collected annually on the 1st April each financial year. These arrangements will be formalised in an Operating Agreement signed by both the Plymouth Waterfront Partnership Ltd and Plymouth City Council. Plymouth City Council do not charge a fee for BID Levy collections and will reimburse BID Levy to Plymouth Waterfront Partnership Ltd.
13. The following exemptions will apply: Places of Worship; telephone masts; advertising poster sites; promotional spaces; concessions; on-street traders and kiosks that do not pay business rates.
14. Collection of the BID Levy carries the same enforcement weight as collection of the non-domestic rates.
15. The BID Levy will have to be paid by a new rate-payer occupying an existing or new rateable property within the BID area up until the end of the five-year term on 31st March 2027, even if they did not vote on the Business Plan. Likewise, any new rateable property created during the lifetime of the BID will be obliged to pay the Levy.
16. The ratings list will be updated for any changes in rate-payer, appeals, additions or removals and liability will be adjusted accordingly. There will be no refunds given for retrospective years as a result of successful appeals, but changes in values will be reflected by a corresponding change to the Levy for the year in which notification is received and for subsequent years.